An alternative to the Retirement Visa route exists in the financially independent visa for which candidates would need to be able to demonstrate a net asset value totalling not less that R12 million.
In addition, it would also be necessary to demonstrate proof of payment of R120,000 as a non-refundable sum to the Director General of Home Affairs. The application for a financially independent visa will lead to permanent residence.
The financially independent visa differs from a retired persons visa which may be issued for a period exceeding three months to a foreigner who intends to retire in the Republic, provided that the foreigner provide proof that such foreigner has the right to a pension or an annuity or retirement account which will give such foreigner a prescribed minimum payment for the rest of his or her life from the country of his or her origin; or a minimum prescribed net worth.
A retired persons visa or financially independent visa, may be issued for a period exceeding three months to a foreigner who intends to retire in the Republic.
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